Uber’s C.E.O. and More at the DealBook Conference: DealBook Briefing

Good Monday morning from Andrew Ross Sorkin in New York and Michael J. de la Merced and Amie Tsang in London. We’re following how the health care industry plans to fight back against President Trump’s move to undercut the Affordable Care Act. More on that in a moment.

At Our Conference: Uber’s C.E.O. and More

Andrew will host a series of conversations throughout the day with some of the biggest newsmakers at the intersection of business and policy.

Among them:

Dara Khosrowshahi, Uber

This will be his first public interview since being named C.E.O. at Uber in late August. Expect Mr. Khosrowshahi to speak about the ride-hailing giant’s struggle in London and — perhaps just as daunting — the company’s internal battles.

Laurene Powell Jobs, founder, Emerson Collective

A rare public interview with one of the most influential women in the worlds of business and philanthropy, whose organization invests in businesses like The Atlantic and the Washington Wizards and in causes like immigration and education.

Also:

• Jack Dorsey, C.E.O., Square and Twitter

• Randall Stephenson, C.E.O., AT&T

• Howard Schultz, executive chairman, Starbucks

• Monika Bickert, head of product policy and counterterrorism, Facebook

Respondents N.F.L. and N.F.L. Team Owners have colluded to deprive Mr. Kaepernick of employment rights in retaliation for Mr. Kaepernick’s leadership and advocacy for equality and social justice and his bringing awareness to peculiar institutions still undermining racial equality in the United States.

Owners have long denied the claim. What the New York Giants co-owner John Mara said in August:

“Anybody that thinks that there’s been any conversations going on among teams about Colin Kaepernick is crazy.”

Bannon said Trump’s decision to not continue funding Obamacare subsidies, announced Thursday, was designed to “blow up” the health care law and insurance marketplaces.

“Gonna blow those exchanges up, right?” Bannon said.

Health insurers — who may have to raise rates or bail out of state insurance markets — are already girding for battle. America’s Health Insurance Plans and the Blue Cross Blue Shield Association issued a joint statement that included this:

Terminating this critical program will do just the opposite. This action will make it harder for patients to access the care they need. Costs will go up and choices will be restricted.

The insurers may have backing from Republican politicians who protested the move.

But the biggest opposition may come from some members of Mr. Trump’s own base.

From the A.P.: “Nearly 70 percent of those benefiting from the so-called cost-sharing subsidies live in states Trump won last November, according to an analysis by The Associated Press.”

The bottom line

Will a coalition of insurers, politicians and voters overturn what Mr. Trump has started?

Also in Washington

Image

The full-page ad that Larry Flynt took out in Sunday’s Washington Post.

• Jonathan Swan, Axios: As Mr. Trump weighs pulling out of Nafta and the United States trade deal with South Korea, has he become the “deal-breaker in chief?”

• The Senate is scheduled to vote tomorrow on starting debate on the 2018 fiscal year budget.

The Losers in a Delayed Aramco I.P.O.

What happens when perhaps the most hotly anticipated initial public offering doesn’t take place?

That was what deal makers around the world had been wondering as Saudi Aramco weighs a private stock sale instead of an expansive international I.P.O., according to the F.T., citing unidentified people.

Reports now say that Aramco probably would list on Riyadh’s Tadawul exchange next year. But the company may pursue a private placement with investors from China and others instead of listing abroad.

Who could take a hit?

• Aramco’s financial advisers: An army of banks including JPMorgan Chase, Morgan Stanley, HSBC, Moelis & Company and Evercore Partners had been hoping for huge advisory fees. (The F.T. has more on banks’ hopes for fees from Saudi projects.)

• Stock exchanges: The N.Y.S.E. and the L.S.E. had been considered the most likely venues for Aramco’s foreign listing. But exchanges in Hong Kong, Tokyo and Toronto have also been competing for the assignment.

• Crown Prince Mohammed bin Salman: It was the prince who has been pushing for the I.P.O., and who planned to use proceeds to invest on behalf of the kingdom.

The official Aramco line: “A range of options, for the public listing of Saudi Aramco, continue to be held under active review. No decision has been made and the I.P.O. process remains on track.”

What to watch for

Whether Saudi officials will say anything at the their government’s Future Investment Initiative conference later this month. (Andrew will attend.)

Pundit corner

Liam Denning, Bloomberg Gadfly: “If the private option is being considered, then it would represent a stunning retreat.”

Weinstein Company: Who Might Want to Bid?

Harvey Weinstein may be out of the company (and out of the Academy), but there may be bidders for the entity he once co-led.

The Speed Read

T-Mobile and Sprint Are Said to Plan Deal Announcement Without Divestitures: “T-Mobile’s and Sprint’s approach shows that the companies plan to enter what could be challenging negotiations with U.S. antitrust and telecommunications regulators without having made prior concessions.” (Reuters)

Bombardier Is Said to Explore Options for Its Aerospace Businesses: “Airbus SE is among the suitors, they said, with one person saying Bombardier is also open to partnerships with other aerospace companies.” (Bloomberg)

Policy and Legal

The World Once Laughed at North Korean Cyberpower. No More: Read how North Korea’s cyberwarfare operations infiltrated banks around the world, burrowed into Sony Pictures Entertainment and hacked Bitcoin exchanges. (NYT)

Fed’s Janet Yellen Says the Economy Remains in Good Health: “She said anticipation of changes like tax cuts has buoyed measures of consumer and business confidence, but there is little evidence so far of increased investment and investment.” (NYT)

Boston Fed President Makes a Case for Rate Hikes: Eric Rosengren said, “If at the end of the next year we were at the point where inflation was around 2 percent and the unemployment rate was below 4 percent, I’d be concerned if we hadn’t moved to remove accommodation.” (NYT)

Amazon Turns On The Charm Amid Criticism From Right and Left: “This year, Amazon has increased its lobbying staff [in Washington] to 83 members from 60, making it one of the biggest corporate lobbying shops in town.” (NYT)

Volkswagen Avoids Effort to Beef Up Oversight After German Election: The victory of the labor-oriented Social Democrats in a state election would be a setback for investors hoping for changes at Volkswagen. (NYT)

Banks and Banking

E.U. Rules Require U.S. Banks to Overhaul Ties With Auditors: “The new rules, which came into force last year, require listed companies in Europe to appoint a new auditor at least every 20 years and to tender these contracts every decade.” (F.T.)

Goldman’s David Solomon on His D.J. Gigs: “The Wall Street veteran says finding and exploring a passion is crucial to longevity in a career known for grinding people down and burning them out.” He also argued that vinyl is making a comeback. (Goldman Sachs podcast, Business Insider)

Private Capital (P.E. and V.C.)

Blackstone Seeks Retail Cash: “The logic is simple: There were 7½ times more U.S. households with $1 million to $5 million in assets at the end of 2016 than there were households with $5 million to $25 million, according to market research firm Spectrem Group.” (WSJ)

Uber Is Selling Shares to SoftBank at Two Different Prices: “The fact that it ‘trades’ in a private, or a secret marketplace is what allows him to exploit the lack of liquidity, or the investors’ inability to sell their shares.” (Recode)

Money Managers

Pentagon Turns to High-Speed Traders to Fortify Markets Against Cyberattack: “Among the potential scenarios: Hackers could cripple a widely used payroll system; they could inject false information into stock-data feeds, sending trading algorithms out of whack; or they could flood the stock market with fake sell orders and trigger a market crash.” (WSJ)

Why Warren Buffett Is Wrong About Low Rates and Stock Markets: The fund manager John Hussman: “The convenience of investing-by-slogan, rather than carefully thinking about finance and examining evidence, is currently leading investors into what is likely to be one of the worst disasters in the history of the U.S. stock market.” (Hussman Funds)

BlackRock’s Rivers of Gold from Active Management: “Fees from active management matched the $1.33 billion in base fees generated in the third quarter by the far larger $3.9 trillion combined pool of E.T.F. and index assets.” (F.T.)

Silicon Valley Is Not Your Friend: Noam Cohen writes, “As is becoming obvious, these companies do not deserve the benefit of the doubt. We need greater regulation, even if it impedes the introduction of new services.” (NYT Sunday Review)

As the World Tweets, Social-Media Chiefs Remain Tight-Lipped: With each repetition of the “transparency” talk from the big social media platforms, more people begin to see right through it, Jim Rutenberg writes. (NYT)

UberEats on Track for $3 Billion in Sales in 2017: “UberEats has been a rare bright spot this year for the San Francisco-based company.” (F.T.)

Surge Pricing Can Come Back to Bite You: “A good rule of thumb is we shouldn’t impose a set of rules that will create moral outrage, even if that moral outrage seems stupid to economists,” said Richard Thaler, the Nobel Prize recipient in economics. (NYT)

An Alternate Universe of Shopping, in Ohio: A combination of demographics, geography and luck turned Columbus into the nation’s consumer laboratory. (NYT)

Netflix to Report Third-Quarter Earnings Today: Investors are sure to see if the company’s meteoric growth can survive a recent subscription price increase and Disney’s removing its content from the service. (Fast Company)